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Report based on group discussion - Essay Example

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The company is presently listed in the Frankfurt, London, and Zurich Stock Exchange. The BASF Group is made up of numerous subsidiaries that are spread all across the world in 80…
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Download file to see previous pages BASF has an employee base of 112,000 employees who have helped the company post a strong revenue growth; in 2013 the company’s turnover was €74.0 billion and a profit of €7.2 billion (BASF).
BASF like other companies in the chemical industry represent an important sector in every economy, in our case Germany. At the same time, the industry represents one of the greatest environmental costs and is a clear threat if no mitigating factors are enforced. The chemical industry is also interlinked with other sectors in the economy considering that only about 13 percent of the total production leaves the plant as finished products (Esty & Simmons, 2011.p.15). In regard to the environment, chemical production utilizes the environment to source for materials with much greater intensity than any other sector. At the same time, these companies use the environment as a medium for production, storage, transport, and disposal of resulting products. Almost every stage of the production process in chemical companies represents a threat to the environment. However, this should not be the case as there are ways and means to curtail these threats without affecting the company’s profitability. In studying BASF, we examine ways through which the company can sustainably fashion its production process and products to achieve eco-efficiency. Eco-efficiency in this case not only represents green processing but a means to improve the company’s financial standing.
In setting up a win-win strategy, BASF will have to address the major processes especially those with the highest impact on the environment. In this section, we look at the foremost changes that would help achieve eco-efficiency with greater emphasis on the manufacturing processes.
The first step is to research and put up alternate means of supplying energy to the manufacturing process. At present, there are several ways through which energy for manufacturing ...Download file to see next pagesRead More
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